-
ISE was the second largest equity options exchange in March with a market share of 17.5%, excluding dividend trades.
-
Dividend trades made up 4.7% of industry volume in March 2013.
The International Securities Exchange (ISE) today reported an average daily volume of 2.4 million contracts in March 2013. This represents a decrease of 11.7% compared to March 2012. Total options volume for the month was 47.3 million contracts. ISE was the second largest U.S. equity options exchange in March with market share of 17.5%*.
Business highlights for the month of March include:
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On March 1, ISE appointed Rob Cornish Chief Technology Officer of ISE.
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On March 5, ISE announced that the U.S. Securities and Exchange Commission (SEC) published for comment a Form 1 application for ISE's second options exchange.
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On March 14, ISE issued a statement on the patent infringement case against the Chicago Board Options Exchange (CBOE).
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On March 18, ISE signed a licensing agreement with KSM, the largest Israeli ETF Issuer. The KSM ETF will track the ISE Water Index.
Detailed volume statistics are found in the tables below:
Equity and Index Options Volume Statistics
| |
Current Month
|
Year-to-Date
|
| (000s) |
March-13
|
March-12
|
% Change
|
March-13
|
March-12
|
% Change
|
| ISE Average Daily Volume |
2,365.9
|
2,679.9
|
-11.7%
|
2,618.1
|
2,682.2
|
-2.4%
|
| ISE Total Volume |
47,318.5
|
58,936.2
|
-19.7%
|
157,088.5
|
166,294.0
|
-5.5%
|
|
Equity Options Volume Statistics (Includes ETF)
| |
Current Month
|
Year-to-Date
|
| (000s) |
March-13
|
March-12
|
% Change
|
March-13
|
March-12
|
% Change
|
|
ISE Average Daily Volume
|
2,326.2
|
2,661.1
|
-12.6%
|
2,581.1
|
2,660.7
|
-3.0%
|
| ISE Total Volume |
46,318.5
|
58,544.3
|
-20.5%
|
154,868.5
|
164,961.7
|
-6.1%
|
| Market Share* |
17.5%
|
18.2%
|
(0.7) pts
|
17.9%
|
18.2%
|
(0.3) pts
|
|
Index Options Volume Statistics (Excludes FX)
| |
Current Month
|
Year-to-Date
|
| (000s) |
March-13
|
March-12
|
% Change
|
March-13
|
March-12
|
% Change
|
| ISE Average Daily Volume |
39.4
|
17.6
|
123.6%
|
36.8
|
21.3
|
72.8%
|
| ISE Total Volume |
787.7
|
387.6
|
103.2%
|
2,205.6
|
1,318.6
|
67.3%
|
|
FX Volume Statistics
| |
Current Month |
Year-to-Date |
| (000s) |
March-13
|
March-12
|
% Change
|
March-13
|
March-12
|
% Change
|
|
ISE Average Daily Volume
|
0.3
|
0.2
|
50.0%
|
0.2
|
0.2
|
0.0%
|
| ISE Total Volume |
6.3
|
4.3
|
46.5%
|
14.4
|
13.7
|
5.1%
|
|
*ISE does not include dividend trade volume in market share statistics. ISE's market share statistics continue to be negatively impacted by dividend trade strategies that are permitted based on a non-economic rationale, and inflate and distort trading volume and market share when transacted. Exclusion of dividend trades from total industry volume data presents a more relevant measure of the relative trends in our business. For ISE's whitepaper on dividend trades and their impact on the options industry, please visitwww.ise.com/dividendtrades.
Dividend Trade Impact on Industry Market Share**
|
March 2013
(000s)
|
Equity Options Volume Excluding Dividend Trades
|
Dividend Trade Volume
|
Total Reported Equity Options Volume
|
True Market Share
|
Market Share With Dividend Trades
|
Market Share Difference
|
Dividend Trades as % of Equity Options Volume
|
| CBOE |
49,747.1
|
0.0
|
49,747.1
|
18.7%
|
17.8%
|
0.9
|
0.0%
|
|
ISE
|
46,524.5
|
0.0
|
46,524.5
|
17.5%
|
16.7%
|
0.8
|
0.0%
|
|
PHLX
|
42,111.9
|
13,214.9
|
55,326.8
|
15.8%
|
19.8%
|
(4.0)
|
23.9%
|
|
AMEX
|
41,549.5
|
0.0
|
41,549.5
|
15.6%
|
14.9%
|
0.7
|
0.0%
|
|
ARCA
|
33,457.2
|
0.0
|
33,457.2
|
12.6%
|
12.0%
|
0.6
|
0.0%
|
|
NSDQ
|
25,302.9
|
0.0
|
25,302.9
|
9.5%
|
9.1%
|
0.4
|
0.0%
|
|
BATS
|
11,708.1
|
0.0
|
11,708.1
|
4.4%
|
4.2%
|
0.2
|
0.0%
|
|
BOX
|
6,416.9
|
0.0
|
6,416.9
|
2.4%
|
2.3%
|
0.1
|
0.0%
|
|
C2
|
5,780.7
|
0.0
|
5,780.7
|
2.2%
|
2.1%
|
0.1
|
0.0%
|
|
BXOptions
|
2,677.6
|
0.0
|
2,677.6
|
1.0%
|
1.0%
|
0.0
|
0.0%
|
|
MIAX
|
555.9
|
0.0
|
555.9
|
0.2%
|
0.2%
|
0.0
|
0.0%
|
|
|
